Future of $ withdrawals

Bump for the new CEO...
 
Following the announcement about the blockchain currency, can the devs please give us some reassurance that this will not affect our ability to withdraw PEDs as USD? If PEDs are going to be tied to DeepTokens instead of USD then this is of serious concern.

Per the presentation deck, a main objective is to reduce withdrawal times to 30 seconds. My guess is you will be withdrawing to their deeptoken currency relative to the ped:usd ratio at the time and then you will need to exchange to other fiat/coinbase. This removes their liability. This would give them the opportunity to focus on deposits via "sales" only in the web store and get out of the deposit business.

I do not know how they manage the withdrawal feature and this option would not be a bad option, should it happen, for as long as said currency is on an actual exchange and not a neverdie closed one.

This is of course conjecture since their presentation deck is a very poor one for announcing anything close to an ICO. As divinity and others have mentioned, their decision not to elaborate on this further is about to blow their feet off with players in the game.
 
If they did that with bitcoin holy hell would there be an inrush of people hunting or mining ;) Myself included!!!

There are such things as satoshi faucets. But they are too lazy to do something like this.
 

LOL, I was re-reading through that thread and saw one of my old posts there:

I've had problems with this virtual money also.

I sent newegg.com 8.6712 BTC and they sent me an ASUS ROG G751 Series G751JY-DH71 Gaming Laptop Intel Core i7 4710HQ (2.50GHz) 24GB Memory 1TB HDD 256GB SSD NVIDIA GeForce GTX 980M 4GB 17.3" Windows 8.1 64-Bit

My problem is that they also sent me a free game - one that I arleady have. Those bastards!

It's bs. I'm not happy.

My laptop is worth $128k+, minus decay of course. LOLF :laugh:
 
Following the announcement about the blockchain currency, can the devs please give us some reassurance that this will not affect our ability to withdraw PEDs as USD? If PEDs are going to be tied to DeepTokens instead of USD then this is of serious concern.

This is now even a bigger question since most of the time in the past we had to wait a while to see any changes and most times the bad news never made it to production. But now with the new CEO being the founder of DeepToken there is no question where MA is heading. I know many here would love the idea of MA moving away form USD to tokens, but sorry, I'm not one of them.
 
Following the announcement about the blockchain currency, can the devs please give us some reassurance that this will not affect our ability to withdraw PEDs as USD? If PEDs are going to be tied to DeepTokens instead of USD then this is of serious concern.

If that happens its time to run.
I trust in US$ as there is a government behind it.
I don´t trust any of the crypto currencys as there is only a single company behind it and even if it is a world player bankhouse, every company in the world can easy go bankrupt by one or two silly managment decisions.

Well greeks show that government isn´t save from going bankrupt, but there is still much higher risk for companys than for countrys.

So please keep the fixed exchange rate 10 PED / 1US$.
 
If that happens its time to run.
I trust in US$ as there is a government behind it.
I don´t trust any of the crypto currencys as there is only a single company behind it and even if it is a world player bankhouse, every company in the world can easy go bankrupt by one or two silly managment decisions.

Well greeks show that government isn´t save from going bankrupt, but there is still much higher risk for companys than for countrys.

So please keep the fixed exchange rate 10 PED / 1US$.

please name the company behind bitcoin. and you trust the government that has piled on trillions in debt for you and future generations to dwell on?
 
please name the company behind bitcoin. and you trust the government that has piled on trillions in debt for you and future generations to dwell on?

And with one post you turned this from a discussion about where MA was heading with this initiative, to a full fledged "Crypto vs Fiat"-discussion.

OnT: Like many, I also think that there's no cause for concern just yet :)
 
I don’t think anyone would bitch if 1 ped = 1 deeptoken and 1 deeptoken = $1+ USD..

A lot of us could retire if ped was tied to a crypto instead of USD. Imagine if 1 deeptoken = 35 and the ratio to ped is still 1:1... we’d all be rich.

Anyways it’s too early to speculate. But I’d much rather turn ped in Moto a crypto and then into btc and have coinbase put it in my bank account in 3 days.

No more 60-day wait? Yes please.
 
The difference between the amount of PEDs the players have and the amount of money/capital Mindark have been growing the last couple of years. If MA plans to go on with EU for many years to come they will not be able to keep the fixed 10PED=1USD without doing anything about it. I guess Deeptoken maybe can be one step and a tool to do something about it.
 
if they cant pay now quick its not going to be faster whit this

if i want to depo 10k us dollars to ma i can do in in a days so if i can send in in a day they can send back in a days

dont event the wheel when the wheel is already there

whit this i may be able to buy everything in game for 100 dollars whit this cureency
 
if they cant pay now quick its not going to be faster whit this

if i want to depo 10k us dollars to ma i can do in in a days so if i can send in in a day they can send back in a days

dont event the wheel when the wheel is already there

whit this i may be able to buy everything in game for 100 dollars whit this cureency

1) the webpage literally references "30 second withdrawal times" for ped...

2) no they cant do it faster... they're a bank. There are tons of regulations and paperwork involved that prevent same day/week withdrawals
 
Still don't have a clear direct answer to this question.
 
Still don't have a clear direct answer to this question.

I Dont think there ever will be, web is down for nearly a month now. Whiteboard should have been up in beginning of january.... no movement. I dont think DeepToken is happening at all anymore
 
Oh yes, DeepToken is for sure happening.
 
I Dont think there ever will be, web is down for nearly a month now. Whiteboard should have been up in beginning of january.... no movement. I dont think DeepToken is happening at all anymore

Deja vu that took them ages to release the beta of combets after all the hype only to fail dismally. They will release the deep tokens after crpto bubble has burst.
 
It looks like we finally have some official clarity on this from the Deeptoken website FAQ section:

Will I still be able to deposit and withdraw at a fixed 10-1 ratio PED-USD?

Yes, the historical exchange rate of USD to PED for Entropia Universe players will still be available.
 
Per the presentation deck, a main objective is to reduce withdrawal times to 30 seconds. My guess is you will be withdrawing to their deeptoken currency relative to the ped:usd ratio at the time and then you will need to exchange to other fiat/coinbase. This removes their liability. This would give them the opportunity to focus on deposits via "sales" only in the web store and get out of the deposit business.



MA needs to support - and by support I mean PROVIDE - a fixed to USD actual banking service at one end of that transaction or this game is dead in a week.

I don't mean just abandoned either MA will experience a real shitstorm unlike any forum crying you think we are used to.

You could easily expect that nearly every player who ever deposited would walk, and not quietly The flood of negativity would probably not be something they could recover from.

As long as one side of the transaction remains at a fixed conversion to USD on demand from mindark, they could get away with setting it up either way there will just be the usual grumbles of people who don't like new stuff.




Edit:

I responded before getting to the last post but wherever that quote is from it's definitely important to have that be official for everyone' peace of mind.

Cutting off a direct link to the fiat system would be devastating to the whole concept of this economy.
 
whatever happened to the ATM cards? Anything that would be less than 50 business days to get my withdraws would be nice.
 
whatever happened to the ATM cards? Anything that would be less than 50 business days to get my withdraws would be nice.

Long abandoned. It is less than 50 days recently.
 
whatever happened to the ATM cards? Anything that would be less than 50 business days to get my withdraws would be nice.

When Mindark was talking about Entropia players and withdrawals, ATM was ment in another context.

Check urban dictionary for more information.
 
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